USD/JPY
Even with the help of adjacent markets, the fact that the dollar surged on Friday looks like a small miracle. A 200-pip rise puts the pair at the top of the market. The price has reached the nearest resistance set by the recent peak on January 19 (148.82). To continue the bullish momentum, the price needs to settle above it; otherwise, the price may return to the support level at 145.99, from which the pair started its upward movement.
If the bulls succeed, the next target will be 149.72, followed by 150.79. The Marlin oscillator has not left the uptrend territory, indicating that the bullish trend has the advantage.
On the 4-hour chart, the price has settled above the balance and MACD indicator lines, with Marlin starting a minor corrective move in the bullish territory. We are waiting for the price to overcome the nearest resistance at 148.82.
